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Regional Round-up

August 2016

Over the last 12 months we have seen several changes in legislation such as Smoke and Carbon Monoxide detectors, New Section 21 notice, Right to Rent checks, changes in tax relief for landlords and Retaliatory Evictions. I have seen the impact these legislative changes have had on self-managing landlords, many of whom are now choosing to instruct an ARLA member agent to ensure they receive correct professional advice.

Since April, landlords purchasing a buy-to-let property have to pay an additional three per cent in stamp duty charges. This, in turn, has seen fewer BTL landlords investing, reducing the number of rental properties coming onto the market.

Members from our region have reported an increase in prospective tenants being registered, which is leading to on average three interested parties for each property. The number of landlords selling their buy-to-let properties has risen for the first time in a year with many being concerned about the European Referendum results.